The Cohesity IPO is underway. The company recently reported that it had confidentially filed to go public. So, let’s dive into the details…

Cohesity IPO: About the Business

Cohesity IPO

Cohesity is a leading data management provider led by a former Google engineer. The company simplifies data management for modern enterprises. Additionally, it says its products can simplify backup and recovery and defend against cybersecurity threats.

On the company website, Mohit Aron, founder and former CEO of Cohesity, says…

At Cohesity, we believe that simplicity is the foundation of modern data management. Our mission is to radically simplify how organizations manage their data and unlock limitless value.

Based in San Jose, California, Cohesity offers a product suite called Helios. Organizations can manage their data across a public cloud, edge or on-premises infrastructure with the unified platform. Furthermore, the Helios platform provides companies with a comprehensive range of data management services. It helps companies consolidate multiple functions on one platform…

  • Backup and Recovery
  • Files and Objects
  • Disaster Recovery
  • Data Security and Governance
  • Development and Test
  • Analytics and Insights

Moreover, Cohesity offers other products in addition to the Helios platform…

  • SaaS – Helps a company to protect, secure, govern and analyze data with data management as a service.
  • DataProtect – Allows customers to simplify data protection, ensure recovery and defend against ransomware.
  • SmartFiles – Provides customers with software-defined file and object services with next-level intelligence, scalability and efficiency.
  • SiteContinuity – Provides Automated disaster recovery failover and failback orchestration.
  • Marketplace – Allows customers to run applications from Cohesity. Additionally, it allows third parties to operate directly on the Helios platform.

In September 2021, the company said that about 2,600 customers use its products. Cohesity disclosed at the time that these customers include nearly a quarter of the Fortune 500. Cohesity clients include the U.S. Air Force, Cisco and NASA.

Cohesity’s finances show that the company is growing rapidly. So, let’s look at the highlights…

Cohesity Financial Data Shows Record-Breaking Performance

In September 2021, Cohesity disclosed that it shattered previous performance records for Fiscal 2021. In the report, the company highlighted record-breaking results…

Subscription Business: Cohesity’s annual revenue run rate surpassed $300 million during the quarter ended July 31. Additionally, the figure is partly due to the company’s 70% increase in year-over-year annual recurring revenue.

Net Expansion Rate: Cohesity’s rate of net expansion increased 130% for fiscal 2021. This figure is due to the annual recurring revenue of Cohesity customers growing more than 30% in the last year.

Customer Growth: Cohesity saw a 40% increase in customers in fiscal 2021. Furthermore, Cohesity saw rapid adoption in the Americas, EMEA and the Asia Pacific regions. As previously mentioned, nearly 25% of Fortune 500 companies do business with Cohesity. This is a 35% increase from 2020.

Robert O’Donovan, the Chief Financial Officer of Cohesity, said…

In Q4, we had our biggest day, week, month and quarter, all resulting in our biggest year… From rapidly increasing ARR, to an outstanding net expansion rate, to strong customer growth — including impressive gains in the Fortune 500, the company is firing on all cylinders and breaking records at every turn.

Cohesity has raised a total of $650 million from investors. Furthermore, the company is backed by industry giants including SoftBank, Foundation and Sequoia Capital. So, how much will the company raise in the Cohesity IPO? Let’s look at the filing details…

Cohesity IPO Filing Details

The company announced that a Cohesity IPO was in the works in December 2021. The company has submitted paperwork to the Securities and Exchange Commission (SEC).

​​The filing is confidential. In other words, the IPO date, price range and offer shares are unknown. Additionally, the company didn’t announce a market or ticker symbol. You can learn more about the IPO process in this step-by-step guide to going public.

Bloomberg reports that Cohesity IPO could land the company a valuation between $5 billion and $10 billion. The figure is far higher than the $3.7 billion private valuation Cohesity received in March.

Cohesity has hired JPMorgan and Morgan Stanley to assist it with the initial public offering.

Additionally, If you’re interested in other investment opportunities in the tech industry, check out Samsara and HashiCorp. Both companies recently filed with the SEC to go public.

Nevertheless, make sure to research before you invest. IPOs can be volatile for the first few months and share prices are constantly changing. Also, if IPO investing interests you, check out our top recent IPOs and our IPO calendar. We update the calendar daily to give you the latest news on upcoming and filed IPOs.